StockMarketWire.com - Takeda Pharmaceuticals and Shire reported they have reached agreement on the terms of a recommended offer pursuant to which Takeda will acquire Shire.

Under the terms of the acquisition, each Shire shareholder will be entitled to receive $30.33 for each Shire share and either 0.839 new Takeda shares or 1.678 Takeda ADSs.

The acquisition terms imply an equivalent value of £48.17 per Shire share.

Takeda said it believes the acquisition will:

- Create a global, values-based, R&D driven biopharmaceutical leader incorporated and headquartered in Japan, with an attractive geographic footprint and the scale to drive future development;

- Strengthen Takeda's core therapeutic areas, bringing together complementary positions in gastroenterology (GI) and neuroscience, and provide leading positions in rare diseases and plasma-derived therapies;

- Create a highly complementary, robust, modality-diverse pipeline and a strengthened R&D engine focused on breakthrough innovation; and

- Deliver compelling financial benefits for the shareholders of both Takeda and Shire, including significant accretion to underlying earnings per Takeda share, return on invested capital above Takeda's cost of capital, and expect it to generate substantial cost synergies of at least $1.4bn

Takeda reported it has remained disciplined with respect to the terms of the acquisition and intends to maintain its well-established dividend policy.



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